Building a new home: 5 things to know
Last modified: 2018/10/08 | Approximate reading time 4 mins
Constructing your dream home from the ground up is an exciting project to take on! Although exciting, building a new home is a huge responsibility that requires you to oversee many different roles, from the planning and budgeting all the way down to electricity and plumbing.
Since this is a project that takes plenty of time, energy and consideration, there are many aspects that homeowners often overlook in the sheer anticipation of everything being finished as quickly as possible. Luckily, we’re here to assist and offer some crucial advice on what to know when building a new home.
5 things to know when building a new home!
1- Careful planning on the space
Since this is your dream home, you’re welcome to plan it out any way that your heart desires. However, unless your home will be exceptionally large, planning of the floorplan and spaces will be a crucial element in the construction process. Ask yourself, how many bedrooms will you need? Do you plan on expanding your family in the near future? Do you require more than one bathroom?
Room layout should be considered according to the needs of yourself and your loved ones, as well as the plumbing and electricity layout. For example, if you want to add a laundry room to your home, make sure that it will be close to a bathroom or kitchen for an accessible water source. Putting your laundry room on one side while your bathroom and kitchen live on the opposite might make things difficult.
Lifestyle and habits are other elements that should play out in planning. Will this be your forever home or do you plan on selling at a later date? If you have young children in the home, do you need to consider safety features? Think about both long and short-term rather than only in the immediate future. Storage is another key element for many homeowners. Pay considerable attention to where you place storage spaces.
There should be a closet in each of the bedrooms, while also considering adding an additional one in the main hallway, foyer or otherwise. If you live in a region that experiences the distinct weather of each season, having a hall closet for extra jackets and gear is absolutely necessary. Again, plan storage in relation to your personal needs, as you don’t want to take too much away from the available living space.
2- Budget, budget, budget
Before you start any part of the construction, you’ll need a carefully determined budget. Start by making sure you can afford to build the home you want. Remember, with any home renovation project, the key is to overbudget for any unseen costs or issues that might arise during the construction process. There are many tools available online that can offer an accurate estimation of the costs based on the scale of the project as well as the materials you’re using. Many of these calculators will lay out costs as well as tax benefits, funding for down payments and additional calculations. However, it’s impossible to flush out and plan every single aspect.
Once your floor plan has been drawn up and you’ve determined a budget, make arrangements with your bank or financial institution for further financing. Home construction financing is usually different from a regular mortgage. In most cases, you’ll need a line of credit to finance the ongoing work done by contractors, and following this, you may need a mortgage to finish the construction line payments.
3- Environmentally-friendly building
If you’re building a home from the ground out, you should definitely consider how to make your home green friendly. Environmentally-friendly building initiatives are not only gaining popularity in recent years but maximizing the energy-efficiency of your home saves a significant amount of money over the years. There are some simple ways to build while adopting this mindset, including ensuring that windows are both well-insulated and South-facing to aid in keeping hot air in and cold air out.
You should consider placing bathrooms, laundry rooms and garages on the South side as well, keeping windows small to minimize heat loss. When it comes to appliances, look for energy-efficient options. They may cost a bit more upfront but will make a huge difference when it comes to the cost on future energy bills.
For other tips on green-friendly building and ways to limit your energy consumption, check out our article on the subject.
4- HVAC systems
HVAC systems are an important aspect of your home and time needs to be spent choosing the right one as well as taking care of proper installation. Not only should you be choosing the environmentally-friendly HVAC system, but any poor planning or installation can result in serious mould and mildew growth. If this occurs, there can be risks to the health of family members and friends.
The size of the unit you choose is another crucial consideration. If you end up with a model that’s too small, it won’t be able to heat and cool your home efficiently and may result in burning more energy and costing more or not performing at all. In the same regard, choosing a unit which is too large will overuse energy as well. Pick the right system for your home by consulting an expert or doing ample research regarding the available systems on the market.
5- Resale value
As mentioned, the home you’re constructing could easily be your forever home. But even with that in mind, it’s still essential for you to consider how your home would look if on the market. Don’t overprice your home for the neighbourhood. Do some research and take into consideration the other homes in the area and how much they cost.
Also, unless you know for certain that you’re going to be in this space forever, it would be wise to avoid anything too far outside of the ordinary. Especially when it comes to the façade of your home, ask yourself how it may appeal to others. Make sure to work with a trusted contractor in order to obtain the results you’re hoping for.
Find trusted contractors for your home renovation project
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